Await instructions about whether to throw out mixture or return to back burner. Do not expect to be thanked for your hard work.

***

Ridiculous, I know, but all too true. As Dana points out, Republicans are now attacking federal regulators because they did not know about JPMorgan’s risky trades in advance (they don’t have the authority to find out). They claim that JPMorgan proves that Dodd-Frank is ineffective and should be eliminated, even though (1) they are the ones that weakened it, and (2) most of its provisions are not even in force yet. The solution, according to Pat Toomey: “let the people in the marketplace make the decisions they will make.” Sounds to me like a recipe for disaster.